Tezos price analysis for December 04, 2022, reveals the market following a bearish movement, obtaining some negative momentum, signifying a loss of positivity for the XTZ market. The price of Tezos has remained negative over the past few hours. On November 06, 2022, the price crashed and went from $1.42 to $0.9945. As a result, the market started depreciating soon after and lost most of its newly gained value. Moreover, Tezos has declined slightly and devalued the price to $0.9976.
XTZ/USD 4-hour price analysis: Latest developments
The Tezos price analysis reveals the market’s volatility following a dormant movement. This means that the price of Tezos is becoming resistant to undergoing variable change on either extreme. The upper limit of Bollinger’s band is present at $1.02, which serves as the strongest resistance for XTZ. Conversely, the lower limit of Bollinger’s band is present at $0.9945, which serves as the most substantial support for XTZ.
The XTZ/USD price appears to be moving under the price of the Moving Average, signifying a bearish movement. The market’s trend seems to be dominated by bears. The XTZ/USD price appears to be moving towards the support, potentially reversing the movement soon if the price breaks the support.
The Relative Strength Index (RSI) is 53.74, showing a relatively stable cryptocurrency stock. This means that the cryptocurrency falls in the lower neutral region. Furthermore, the RSI appears to move downward, indicating a decreasing market. The dominance of selling activity causes a declining RSI score. The RSI indicates depreciating features that could potentially reverse the market dynamic if it falls too much. This can be considered an opening for the bulls if they capture this opportunity.
Tezos price analysis for 1 day: XTZ shows negative signs
The Tezos price analysis reveals the market’s volatility following a declining movement, which means that the price of Tezos is becoming less prone to experience variable change on either extreme. The upper limit of Bollinger’s band is present at $1.03, Conversely, the lower limit of Bollinger’s band is present at $0.9491
The XTZ/USD price appears to be moving under the price of the Moving Average, signifying a bearish movement. The market’s trend seems to have shown bearish dynamics in the last few days. As a result, the market has decided on a negative approach. The less volatile market may be unfavorable for the bears as the bears now have good chances of maintaining their movement and deprecating the value of XTZ even more. However, this will prove to be quite disadvantageous for the bulls.
The Tezos price analysis shows the Relative Strength Index (RSI) to be 37.10, signifying a stable value for the cryptocurrency. This means that the cryptocurrency falls in the lower undervalued region. Furthermore, the RSI path seems to have shifted to a slight downward movement. The low RSI score also means dominant selling activity.
Tezos price analysis conclusion
Tezos price analysis reveals the cryptocurrency follows a downward trend with much room for activity on the negative extreme. The market’s current condition appears to be very unpredictable, as it shows potential to move to either extreme.
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Source: https://www.cryptopolitan.com/tezos-price-analysis-2022-12-04/